OKC MAPS Economic Impact - Full Report

OKC MAPS PROJECTS – 25 YEARS

south of I-40 reported a loss of 10 housing units between 2013 and 2017. This decline reflects both the removal of properties purchased to accommodate south Scissortail Park and changing land-use patterns. Figure 15. Downtown Housing Units by Census Tract – Assessment Data

Tax Year

Change

Percentage Change

Census Tract

2009

2011

2013

2015

2017 2009-13 2013-17 2009-17 2009-13 2013-17 2009-17

1016 1017 1018 1025 1026 1027 1030 1091 1032

363 537 805

364 538 804

362 532 799

376 546 794

375 529 791

-1 -5 -6

13

12

-0.3% -0.9% -0.7% -0.7% 13.6% 0.0% 0.0% -2.0% -12.7%

3.6% -0.6% -1.0% 0.1%

3.3% -1.5% -1.7% -0.6%

-3 -8

-8

-14 -10

North Tracts 1,705 1,706 1,693 1,716 1,695

-12

2

346 144

346 144

393 144

694 1,398

47

1,005

1,052

255.7% 229.2%

304.0% 229.2%

144

474

0 0

330

330

5

5

5

5

5

0

0

0.0%

0.0%

543 213

541 219

532 186

526 217

854 217

-11 -27 -14

322

311

60.5% 16.7%

57.3%

31 30 49

4

1.9% 1.4%

1,121 1,117 1,107 1,109 1,137

16 62

-1.2% 6.0% 3.2%

2.7%

1036.01 1036.02

218

224

231

246

280

13

21.2% -3.1% -50.7% 105.2% 72.6% -10.1% 47.3%

28.4%

31 75

31 72

32 67

31 62

31 33

1

-1

0

0.0%

1037 1038

-8

-34 729

-42

-10.7% 66.6%

-56.0% 241.8% 88.0% -10.1% 55.3%

416

491

693

857 1,422

277 278

1,006 2,739

South Tracts 3,112 3,190 3,390 3,891 5,851

2,461

8.9% 0.0% 5.4%

1040 Total

99

99

99

95

89

0

-10

-10

4,916 4,995 5,182 5,702 7,635

266

2,453

2,719

Source: Oklahoma County Assessor and City of Oklahoma City Planning Department

Housing Unit Growth – Census ACS Data Census ACS data provide an alternative count of housing units in the study area at the tract level. ACS survey data are highly informative at the tract level because they provide a unit count as well as a detailed description of the characteristics of housing in the study area. The tradeoff when using ACS data is the use by Census of 5-year estimates within small regions. Again, the use of a 5-year survey period will result in an understatement of changes in the most recent years of data but will typically provide a conservative estimate of the change. Figure 16 provides an overview of total housing units in the 14 tracts in the downtown study area since 1990. Much like the assessment data, the turnaround in the downtown housing market is evident in the Census estimates as well. After a decline of nearly 300 housing units between 1990 and 2000, approximately 200 units were added between 2000 and 2010. The pace then accelerated to more than 550 units between 2010 and 2017. Converted to a decade equivalent pace, approximately 800 units would be added between 2010 and 2020, a far faster pace than experienced in the prior two decades. Measured from the long-term bottom of 4,458 units in 2000, Census reports about 750 net new housing units added through 2017, pushing the total to 5,212. The reported growth confirms the uptrend in housing units in county assessment data trails the sharp gains reported in the assessment data in the most recent years due to the ACS 5-year survey period. The much stronger growth reported in the ACS data between 2015 and 2017 is more reflective of the rapid growth in the period.

33

Made with FlippingBook - professional solution for displaying marketing and sales documents online